Building Details

Year Built 2022

Buildings 1

Stories 1

Units 7

Tenancy Multi

Listing Agency: Florida Brokers Real Estate

Listed By: Marcelo Olsak · License #Fl 3058500 Show Phone

Source: Crexi

Added: Aug 23, 2024 Changed: Oct 4 Last Checked: Oct 16 at 7:25AM

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Investment Insights

Based on property information with market context.

This fully leased retail plaza is located in Pembroke Park, Florida. The property, built in 2022, features 8,917 square feet of building size and is situated on a main street with excellent visibility and heavy traffic on Hallandale Beach Boulevard, with proximity to various amenities. The property is suitable for retail, office, medical, and restaurant uses. The plaza contains seven retail units and is currently 100% occupied. The property includes 37 parking spaces and hurricane impact windows. Current tenants are responsible for all utilities, interior insurance, permits, and necessary build-outs inside the unit. CAM covers building insurance, exterior electric, lawn care, and management fee. The tenant mix includes established and high-traffic retail businesses, such as a beauty space, furniture store, smoke shop, and electronic store. Each unit features an open layout, air conditioning, and a bathroom. The zoning is B-1, with potential for redevelopment or expansion based on zoning regulations.

Key Highlights

• 100% Leased Triple Net Investment: Enjoy immediate and stable income.
• Prime Location: High‑traffic location on Hallandale Beach Blvd ensures excellent visibility and accessibility.
• Strong Income Potential: Generates $239,213.04 annual gross income with a 5.56% cap rate.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$150,779

Cap Rate

3.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,015,580 $3.0M

Cap Rate 7%

$2,153,986 $2.2M

Cap Rate 9%

$1,675,322 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,917 SF

Gross rent

$235.4K $26.40/SF

− Vacancy

−$20.0K −$2.24/SF

EGI

$215.4K $24.16/SF

− OpEx

−$64.6K −$7.25/SF

NOI

$150.8K $16.91/SF

Area

Broward County, FL

Vacancy

8.50%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,015,580

Cap Rate 7%

$2,153,986

Cap Rate 9%

$1,675,322

Alternative Uses

Best Use

Retail

$2.15M

$1.88M – $2.51M (±1% cap)

NOI $150,779 @ 7.0% cap · market cap 3.51%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.52M

$3.96M – $5.28M (±1% cap)

NOI $316,678 @ 7.0% cap · market cap 7.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Dr. Lynn Labrousse ... Alternative Medicine Practice EuroHouse Kitchen & Bath Showroom 24k Smoke Shop (Bike/Boat/Book/etc) Store Salame Lash Artistry ... Cosmetic Store body rubs hallandale Alternative Medicine Practice

Suggested Use

Top Pick Dental Office Real Estate Agency Law Firm Parking Lot & Garage Acupuncture Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

621

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 33023, FL

66,749

Population

22,450

Households

3

Avg Household Size

38

Median Age

20%

College-Educated

84%

High-School Grad

8.8 sq mi

ZIP Area

7,585

Density / Sq Mi

$70,003

Median Household Income

$35,093

Median Earnings

$1,621

Median Rent

$344,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar Off Market Nearby

• Coin Cloud Bitcoin ATM — 4000 sw 40th ave, west park, fl 33023
• Hollywood Shopping Plaza — 4520 Hallandale Beach Blvd, Pembroke Park, FL 33023
• Park Square Center — 3192 W Hallandale Beach Blvd #5145, Hallandale Beach, FL 33009
• EAST COAST FACILITIES — 5301 SW 25th Ct, West Park, FL 33023
• Wheel Danny — 2599 SW 32 Ave, Pembroke Park, FL 33023

Frequently Asked Questions

What type of property is this?

Shopping center - Fully leased retail plaza with high visibility and income potential.

Where is this shopping center located?

The property is located at 4250 W Hallandale Beach Blvd Pembroke Park, FL.

What is the asking price?

The asking price for this property is $4,300,000.

What are key features of this property?

This property features: 100% Leased Triple Net Investment: Enjoy immediate and stable income.; Prime Location: High‑traffic location on Hallandale Beach Blvd ensures excellent visibility and accessibility.; Strong Income Potential: Generates $239,213.04 annual gross income with a 5.56% cap rate.